Friday, August 29, 2008

Economic scare mongering

OK...

Now I accept that the current economic crisis is incredibly dangerous for all of us. I accept that it is right we need to be warned and the dangers pressed upon us, even if I do find it ironic that the same "experts" were saying it would just be a blip a year ago, while much less knowledgeable people were sensing things were going tits up and fast!

But am I the only one who thinks that this government (and others around the world) is just making a bad situation worse by scare mongering?

From dithering over Northern Rock, the 10p tax break and stamp duty... to now warning us that this is the gravest economic situation we have faced in 60 years, I can't help but think that none of this actually... well... helps!

How are the markets going to respond to a chancellor saying this crisis is arguably worse than the recession of the early 1990s or the year on year disaster of the 1970s, when inflation reached 27%, 3 day working weeks were introduced to cut energy consumption and the unions held successive governments to ransom?

It may be unintentional, but this type of "candid" interview does nothing but scare people. Admitting you are responsible for some of the problems is one thing, but then saying the crisis is worse than any economic crisis we have faced since the War is incredibly unprofessional and downright stupid.

We need strong leadership and a clear idea that everything that can be done is being done. Instead we get a moron whose every major action seems to be to undermine the economy further.